All American Shopping Spree

CNN Money reported today that spending in America was "up 5.9% from a year ago." Spending has increased greatly at clothing stores, restaurants, and home improvement stores like Home Depot and Lowes. As a result of a strengthening economy and job market, Americans are feeling more confident than ever to whip out the Amex and spend some serious cash. In addition, the unemployment rate is at the lowest it's been since 2000, boosting the economy even further into recovery, but how long will this last? With spending going up, American savings are going down. "The savings rate dipped to 2.8% in April as the rate of consumer spending outpaced the increase in personal income," reports CNN. Everyone loves a nice trip to the mall, but pretty soon people are going to have to start spending less and saving more. [1 image, 1 link, 2 quotes, 141 words]